Brunswick Corporation and Wells Fargo Commercial Distribution Finance announce three-year extension of the Brunswick Acceptance Company
METTAWA, Ill. (March 10, 2021) – Brunswick Corporation (NYSE: BC) and Wells Fargo Commercial Distribution Finance (CDF) have announced a three-year extension of the Brunswick Acceptance Company (BAC) joint venture agreement through December 2025. The JV, which began in 2002, offers financial solutions to the Brunswick Boat Group and Mercury Marine dealer networks in North America. Now, as part of the new extension, the agreement will also provide expanded financing to North American Freedom Boat Club franchisees.
“Wells Fargo has been a long-standing partner of Brunswick Corporation for more than 45 years, including almost 20 years through our joint venture,” said Ryan Gwillim, Brunswick Corporation CFO. “We are currently experiencing incredibly high demand in the marine industry, and this extension will ensure that our channel partners in North America have access to high-quality floor-plan financial services and offerings, enabling their opportunity for financial growth.”
“Through what has been an exceptional and unpredictable year, Brunswick remains a key player in the recreational marine industry,” said Bruce Van Wagoner, Marine Leader for Wells Fargo Distribution Finance. “We are grateful Brunswick trusts us as their preferred floorplan financing provider through all stages, and we look forward to continuing to support their vast network of North American dealers.”
Committed to serving the marine industry and focused on its success, Brunswick Corporation and Wells Fargo CDF have supported the industry together through the joint venture of Brunswick Acceptance Company since 2002.
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Mastervolt, and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club and Boat Class. For more information, visit brunswick.com.
About Wells Fargo Distribution Finance (DF)
Wells Fargo Distribution Finance provided more than $42 billion in financing for more than 30,000 dealers and more than 1,200 distributors and manufacturers globally in 2020. CDF provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visit wellsfargo.com/cdf.
Released March 10, 2021